China VC/Tech News Roundup: Jack Ma On Blockchain, Bitmain Leads $110M In Circle, Roadstar.Ai’s $128M Round

In this episode of China Money Podcast, listen to all the news headlines in the week of May 14-18, 2018 with host Nina Xiang. Topics covered include Alibaba’s founder Jack Ma’s views on blockchain, the world’s largest Bitcoin miner Bitmain leading US$110 million in Goldman Sachs-backed Circle, and Chinese autonomous driving start-up Roadstar.ai raising a massive US$128 million financing round. Be sure to subscribe to China Money Podcast for free in the iTunes store, or subscribe to our weekly newsletter. …

Tencent Sets Up Robotics Laboratory To Support A.I. Ambitions

Chinese Internet giant Tencent has announced the establishment of a robotics laboratory named "Robotics X”, to support the company’s push into AI and robotics. The new lab, to be based in Shenzhen, will reinforce Tencent’s R&D in the artificial intelligence realm in conjunction with its existing AI Lab, launched in April 2016. At the same time, the company announced that it had reached a strategic cooperation agreement with Nature Research, a subsidiary of academic publisher Springer Nature, to promote research …

From University To Rising Star, How One Chinese AI Start-Up Aims To Make China "Smart"

Yao Song, founder of upstart Chinese artificial intelligence (AI) start-up DeePhi Tech, has a nickname: "Boss Yao". The 25-year-old Tsinghua University graduate has been on a winning streak so far. After securing a victory at a national physics competition championship, Yao was admitted into China’s top university to study electrical engineering without having to take the university entrance exam. While at Tsinghua, he chaired a prominent student science association and organized innovation competitions on campus.

China May Own More Artificial Intelligence Patents Than US By Year-End

China and the United States are both artificial intelligence superpowers. But China may soon be the clear leader, at least in terms of AI patents filed. The U.S. currently has more, with 35,508 AI patents, versus 34,345 for China. But as Chinese companies and scientists are filing AI patents at a faster pace, the nation is likely to hold more AI patents than the U.S. by year end, according to a report by Sequoia Capital China and Zhen Fund.

Google-Backed Mobvoi Dreams Of Powering Smart Hardware Revolution

Zhifei Li, founder of Chinese artificial intelligence firm Mobvoi, once joked in a Wechat post that the best business model for a Chinese AI company was to become an Internet celebrity via smart marketing and then pivot to become an e-commerce firm. But, he added self-deprecatingly, "because I’m not handsome enough and my Mandarin is terrible, I choose to sell premium hardware powered by our own proprietary AI technology."

Sequoia China Takes Broad Approach To Artificial Intelligence Investment

Sequoia Capital China, the venture capital firm founded by renowned investor Neil Shen has stakes in 29 Chinese artificial intelligence (AI) start-ups. But while some other investors take a laser focused approach to the sector, Sequoia’s portfolio includes more broadly defined AI firms such as ride hailing giant Didi Chuxing that use AI as a key component of their business, along with pure AI tech research centered players like Mobvoi.

China Money Network’s AI Evolution Series: Prepping For The AI Workforce

中文版请点击这里 The artificial intelligence (AI) revolution has begun. PwC estimates that thirty-eight percent of jobs in the U.S. are at high risk of being replaced by robots and AI within 15 years. Prominent Chinese AI investor Dr. Kai-Fu Lee predicts half the jobs in the world could be replaced by AI in ten years time.

Ex Baidu Chief Scientist Andrew Ng To Raise $150M AI Fund

Andrew Ng (pictured), former vice president and chief scientist at Baidu Inc., has stayed busy since leaving the Chinese search engine in March. After launching online courses on artificial intelligence (AI), Ng’s latest move is to raise a US$150 million venture capital fund to back AI start-ups.

China Aims To Lead The World In AI, Core AI Sector To Reach RMB1 Trillion By 2030

China’s State Council issued a "New Generation Artificial Intelligence Development Plan" yesterday, outlining how the country will create the world’s leading AI industry, with a target value of RMB1 trillion (US$148 billion) by 2030. In the document, Beijing spelled out three steps to reach its goal of turning China Inc. into China AI. The first step is for China’s AI industry to maintain an advanced position in terms of AI technology and applications, and for the AI sector to become …

Sequoia Capital’s Liu Xing Discusses AI Investments In China

Liu Xing (pictured), a partner at Sequoia Capital China, spoke to China Money Network’s Nina Xiang earlier this week in Beijing on investing in artificial intelligence start-ups in China. Liu joined the venture firm in 2007, and specializes on seed, early and growth-stage companies in the consumer and TMT sectors. Watch the video interview and read a Q&A below: Q: How would you assess artificial intelligence investments in China right now? A: I think the whole AI sector (in China) …

Here Are China’s Top 10 AI Companies Challenging US Tech Leadership

Think of China as the world’s factory no more. The Middle Kingdom has been rising in technological sophistication at light speed in recent years, fueled by top-down policy encouragement and venture capital funding. Ten years from now the world’s second biggest economy – though China should already be the world’s biggest economy long before that – could well be the leading power in the next exciting tech frontier: artificial intelligence (AI), projects Dr. Kai-Fu Lee, founder of Sinovation Ventures and …